Can Young Professionals Afford to Buy a Home in New England?
This policy brief compares housing affordability for households headed by young professionals in New England to affordability for middle-income households in the region and to affordability for their peers in other regions. The author investigates two measures of affordability: how burdened homeowners are by housing costs, and how incomes compare to the costs of owning a home. Overall, young professional households in New England pay more for housing than their peers in other regions, but they are generally able to find housing that is affordable, particularly given their high incomes. However, young professionals in some other regions can afford to purchase a home more easily.
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